News 6 Oct 2017

UK PM's Trade Envoy visits Oman

Lord Astor of Hever, the UK Prime Minister’s Trade Envoy visited Oman on 2 – 6 October. His role is to work with the UK Department for International Trade to support and encourage the growth of business links and partnerships between the UK and Oman, and to promote the UK as a trade partner of choice for Oman. His visit reinforced the importance the UK places on its bilateral trade relationship with Oman.

During his visit, Lord Astor had meetings with a range of senior government and business officials. He attended a lunch for British and Omani business with His Excellency Dr Ali Al Sunaidi, Minister of Commerce and Industry, and watched the amazing Royal Air Force Aerobatic Team display, the “Red Arrows”. He was also pleased to witness the signing of a contract between CB&I and Douglas-OHI at the British Ambassador’s Residence.

At the end of his visit, Lord Astor said:

“I am pleased to be back in Oman in my role as the Prime Minister’s Trade Envoy.

Oman is an important strategic and commercial ally for the UK. My role as Trade Envoy is to encourage and support the growth of business links and partnerships between our two great countries and help to ensure the UK is seen as a ‘trade partner of choice’ for Oman. I am delighted to see that the UK is the largest source of Foreign Direct Investment (FDI) in Oman by far, accounting for over 45% of total FDI according to Omani statistics.

With His Excellency Dr Ali Al Sunaidi, I underlined the recent and significant increase in the UK Governments’ Export Credit Agency’s country limit for Oman from £2 billion to £3 billion. This will further stimulate the Oman economy, by giving buyers and project sponsors in Oman access to attractive long-term finance, and will help to build and strengthen our business partnership with this wonderful country.

The visit of the iconic Red Arrows has allowed us to demonstrate our commitment to the country through promoting trade but also through education and training with the British Council, and Omani alumni who have studied in the UK”.

 

Excerpt from the Foreign and Commonwealth Office wesbite here